Acquired company has Rs 350cr turnover, says Motherson Sumi

Motherson Sumi Systems is on radar after its arm acquires 100 percent of MS Global India (MSGI) from Korea-based MS Group. In an interview to CNBC-TV18, Vivek Chaand Sehgal, Chairman of Motherson Sumi Group discussed the details of the deal.

Motherson Sumi Systems is on radar after its arm acquires 100 percent of MS Global India (MSGI) from Korea-based MS Group. In an interview to CNBC-TV18, Vivek Chaand Sehgal, Chairman of Motherson Sumi Group discussed the details of the deal.

Sehgal said that the acquired company is doing a turnover of approximately Rs 350 crore at the moment.

He further said that the company is doing steel stamping and with this we also get the hot stamping of steel.

"Hot stamping is a new technology which is required for light weighting of steel that the car makers use," he said.

The parent of this company is also supplying the same to Tesla, he added.

According to him, over a period of three years, hot stamping will be a multi-billion dollar industry.